Luis, there ARE some government programs, when designed and managed professionally, that are GOOD INVESTMENTS that will generate positive returns to our communities. Innovative, demanding and competitive lifelong education and enlightenment programs are one. This home ownership initiative is another. Home ownership is a good thing, it's an investment in your neighborhood, an investment in your family, and it's an investment in an individuals sacred commitment to a lifelong quest for an ever greater measure of health, well-being, education and prosperity for himself, his wife and children ... to present for their kids and their kids and ... going forward forever. It's a stake in the American wonder. We need to make that dream as available as possible, we can't hog it for ourselves.
If a downpayment is the only barrier keeping a lender from financing a mortgage for a virtuous, income producing family, let's help with the downpayment. The lender needs to put something in the kitty as well. If tax credits will spur a development company to position a neighborhood of safe and quality "starter" homes ... well, that's an easier mortgage package for a banker to approve, and he'll have an easier time positioning security for his loan to this new credit participant. It's all good ...